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Hindustan Times
5 hours ago
- Business
- Hindustan Times
Department of Justice settles with HPE and Juniper Networks: What you need to know
The Department of Justice has reached a settlement in its lawsuit that challenged server maker Hewlett-Packard Enterprise's takeover of Juniper Networks for $14 billion, as per court filings. This comes when a trial was set to start in the matter in less than two weeks, Bloomberg reported. In an official release, the US Justice Department stated that it advised the court that a settlement was made with the two companies, adding that it allows their merger to continue. The Department of Justice has settled its lawsuit against Hewlett-Packard Enterprise's $14 billion acquisition of Juniper Networks. Photographer: Ian Maule/Bloomberg(Bloomberg) Gail Slater, Assistant Attorney General for the Antitrust Division, has thanked all from the department for their work on the case. Department of Justice Chief of Staff Chad Mizelle dubbed it "another key legal victory" for the division. "Our attorneys will continue fighting and winning to defend the American people and consumers,' Mizelle added. Also Read: Iran reopens central and western airspace after ceasefire with Israel: What does this mean for international flights? HPE, Juniper Networks reach settlement with Justice Department As part of the settlement, the combined company is required to divest HPE's Instant On wireless networking business as well as license the source code for Mist AI software of Juniper Networks. This is used in the company's Wireless Local Area Network (WLAN) products. The joint settlement was filed late Friday night and is now seeking the approval of a judge. This could avoid the matter going to court for the scheduled trial on July 9. A joint statement from the two companies stated that Hewlett Packard Enterprise had on January 9, 2024, announced the agreement to acquire Juniper in "an all-cash transaction". This was made for $40 per share, which represented the equity value of nearly $14 billion. They said that the agreement has now cleared the way for the transaction to close as it has resolved the concerns of the US Justice Department. Antonio Neri, president and CEO of HPE, said the agreement creates "greater competition in the global networking market,' besides offering customers a "modern network architecture alternative" to support the demands of AI workloads. The department filed a complaint against the deal in the federal court in late January 2025. It claimed that the deal would stifle competition, thus paving the way for only two companies, Cisco Systems and HPE, to control over 70 per cent of the US market for networking equipment, according to Reuters. A few weeks later, Juniper denied these allegations, stating that it failed to correctly represent the market dynamics for wireless network solutions. FAQs 1. When and where was the trial set to take place in the matter? It was scheduled to start on July 9 in San Jose, California. 2. What does the Justice Department's settlement mean for HPE and Juniper? This allows their merger to continue. 3. What's the merger deal? In January last year, HPE said that an agreement was reached to acquire Juniper in an all-cash transaction for nearly $14 billion.
Time of India
10 hours ago
- Business
- Time of India
US DOJ settles antitrust case for HPE's $14 billion takeover of Juniper
Academy Empower your mind, elevate your skills The US Department of Justice has settled its lawsuit challenging server maker Hewlett Packard Enterprise 's all-cash acquisition of Juniper Networks for $14 billion, according to court settlement requires the combined company to divest HPE's Instant On wireless networking business and license the source code for Juniper 's Mist AI software used in Juniper's WLAN (Wireless Local Area Network) joint settlement, filed late on Friday, requires approval by a judge and would avoid the need for a trial scheduled for July Department of Justice (DOJ), HPE and Juniper did not immediately respond to a Reuters request for comment outside business DOJ sued to block the deal in January, arguing that it would stifle competition and lead to only two companies - Cisco Systems and HPE - controlling more than 70% of the US market for networking February, Juniper denied the DOJ's allegations, saying in a filing that the complaint does not correctly represent the market dynamics for wireless network solutions and the companies' rationale for the said more than a year ago that it would acquire Juniper, as it looks to spruce up its artificial intelligence offerings.
The Star
15 hours ago
- Business
- The Star
US DOJ settles antitrust case for HPE's $14 billion takeover of Juniper
FILE PHOTO: Figurines with computers and smartphones are seen in front of Hewlett Packard Enterprise logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -The U.S. Department of Justice has settled its lawsuit challenging server maker Hewlett Packard Enterprise's all-cash acquisition of Juniper Networks for $14 billion, according to court filings. The settlement requires the combined company to divest HPE's Instant On wireless networking business and license the source code for Juniper's Mist AI software used in Juniper's WLAN (Wireless Local Area Network) products. The joint settlement, filed late on Friday, requires approval by a judge and would avoid the need for a trial scheduled for July 9. The Department of Justice (DOJ), HPE and Juniper did not immediately respond to a Reuters request for comment outside business hours. The DOJ sued to block the deal in January, arguing that it would stifle competition and lead to only two companies — Cisco Systems and HPE — controlling more than 70% of the U.S. market for networking equipment. In February, Juniper denied the DOJ's allegations, saying in a filing that the complaint does not correctly represent the market dynamics for wireless network solutions and the companies' rationale for the deal. HPE said more than a year ago that it would acquire Juniper, as it looks to spruce up its artificial intelligence offerings. (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Alexandra Hudson and Timothy Heritage)
CNBC
15 hours ago
- Business
- CNBC
US DOJ settles antitrust case for HPE's $14 billion takeover of Juniper
The U.S. Department of Justice has settled its lawsuit challenging server maker Hewlett Packard Enterprise's all-cash acquisition of Juniper Networks for $14 billion, according to court filings. The settlement requires the combined company to divest HPE's Instant On wireless networking business and license the source code for Juniper's Mist AI software used in Juniper's WLAN (Wireless Local Area Network) products. The joint settlement, filed late on Friday, requires approval by a judge and would avoid the need for a trial scheduled for July 9. The Department of Justice (DOJ), HPE and Juniper did not immediately respond to a Reuters request for comment outside business hours. The DOJ sued to block the deal in January, arguing that it would stifle competition and lead to only two companies — Cisco Systems and HPE — controlling more than 70% of the U.S. market for networking equipment. In February, Juniper denied the DOJ's allegations, saying in a filing that the complaint does not correctly represent the market dynamics for wireless network solutions and the companies' rationale for the deal. HPE said more than a year ago that it would acquire Juniper, as it looks to spruce up its artificial intelligence offerings.
Yahoo
30-01-2025
- Business
- Yahoo
Hewlett Packard Enterprise and Juniper Networks Strongly Oppose Department of Justice's Decision to File Suit to Block Acquisition
Proposed Acquisition Drives Innovation for Customer Solutions, Enhances an Already Competitive Market, and Fortifies U.S. National Security and the American "Core Tech" Sector Companies Plan to Vigorously Defend the Transaction in Court HOUSTON & SUNNYVALE, Calif., January 30, 2025--(BUSINESS WIRE)--Hewlett Packard Enterprise (NYSE:HPE) and Juniper Networks, Inc. (NYSE:JNPR) today responded to the filing of a complaint by the U.S. Department of Justice seeking to prohibit closing of HPE's proposed acquisition of Juniper: "We believe the Department of Justice's analysis of this acquisition is fundamentally flawed and we are disappointed in its decision to file a suit attempting to prohibit the closing of the transaction. We will vigorously defend against the Department of Justice's overreaching interpretation of antitrust laws and will demonstrate how this transaction will provide customers with greater innovation and choice, positively change the dynamics in the networking market by enhancing competition, and strengthen the backbone of U.S. networking infrastructure. Consistent with the conclusions reached by all other major antitrust regulators who have reviewed the deal, this transaction brings together two complementary networking offerings and will create a networking player with the scope and scale to more effectively compete with global incumbents. This proposed acquisition will provide customers of all sizes with a modern, secure network built with AI and for AI to ensure a better user and operator experience, and will create more competition, not less." The facts in support of this transaction are clear: There is extensive evidence that shows this acquisition is pro-competitive and the product area that is the focus of the DOJ's suit – Wireless Local Area Network (WLAN) – is characterized by robust competition, with at least eight alternatives to HPE and Juniper. The DOJ's claim that the WLAN market is composed of three primary players is substantially disconnected from market realities. As customers shift to AI and cloud-driven business strategies for secure, unified technology solutions to protect their data, barriers to entry have decreased and expansion and competition for WLAN has intensified. As such, WLAN is an extremely competitive market with a broad set of players, all of whom are fighting for business and winning bids in competitive RFP processes. The transaction will not impede the ability of other WLAN vendors to vigorously compete. These allegations ignore well capitalized competitors in the U.S. – several of which hold market shares comparable to Juniper and one of which holds more than 50% market share. These competitors generate business across all customer sizes and industry verticals, including large enterprise customers, who often solicit bids from five competitors for each opportunity. The transaction has been approved by antitrust regulators in 14 jurisdictions, including the European Commission and the U.K. CMA, each of which unconditionally cleared the transaction and acknowledged the pro-competitive benefits of this transaction. Other than Israel, the U.S. is the only jurisdiction to not have cleared this deal. Customers support this transaction, and the Department of Justice has not provided any evidence of customer complaints. The combination creates unparalleled opportunity to better serve both HPE and Juniper customers and acts as an innovation catalyst for the industry. This transaction will benefit customers who gain a comprehensive AI-driven and cloud-native IT portfolio including the networking architecture necessary to manage and simplify their expanding and increasingly complex connectivity needs. Following the completion of the transaction, the combined company expects to accelerate innovation across the entire networking stack by investing in various R&D initiatives. This innovation will create more compelling solutions for customers and partners. HPE and Juniper's complementary combination will create a compelling, U.S.-based alternative globally to incumbents, fortifying the American "core tech" sector that serves as the backbone of U.S. networking infrastructure. "Core tech" companies build and maintain the critical infrastructure that enables our entire modern economy and includes essential technologies like large-scale compute, semiconductors, and networking. These are essential to safeguarding national security. The networking space has become a critical arena of vulnerability, particularly as the industry looks toward 6G development and quantum-secure communications. The transaction will create a robust U.S.-based provider of core technology infrastructure that can help to protect against national security risks in the global technology market. HPE and Juniper remain fully committed to the transaction and believe we will prevail in litigation and close the transaction so we can deliver the benefits of this acquisition to our customers. About Hewlett Packard Enterprise Hewlett Packard Enterprise (NYSE: HPE) is a global technology leader focused on developing intelligent solutions that allow customers to capture, analyze, and act upon data seamlessly. The company innovates across networking, hybrid cloud, and AI to help customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: About Juniper Networks Juniper is dedicated to dramatically simplifying network operations and driving superior experiences for end users. Our solutions deliver industry-leading insight, automation, security and AI to drive real business results. We believe that powering connections will bring us closer together while empowering us all to solve the world's greatest challenges of well-being, sustainability and equality. Additional information can be found at or connect with Juniper on X (formerly Twitter), LinkedIn and Facebook. Forward-looking Statements This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HPE and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, any statements regarding the outcome of the litigation; any statements regarding the ability of HPE to integrate and implement its plans, forecasts and other expectations with respect to Juniper's business after the completion of the transaction, and to realize additional opportunities for growth and innovation; any statements regarding the expected benefits of the transaction contemplated by this document, including enhanced opportunities for growth, the delivery of customer benefits and the realization and timing of economic benefits; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the ability of HPE and Juniper to prevail in the litigation prior to the termination of the merger agreement or to prevail at all; the possibility that the expected benefits of the consummated transaction may not materialize as expected; that the parties are unable to successfully implement integration strategies; potential adverse business uncertainty resulting from the completion of the transaction; and other risks that are described in HPE's and Juniper's SEC reports, including but not limited to the risks described in HPE's Annual Report on Form 10-K for its fiscal year ended October 31, 2024 and Juniper's Quarterly Report on Form 10-Q for its fiscal quarter ended September 30, 2024, both filed with the Securities and Exchange Commission. HPE and Juniper assume no obligation and do not intend to update these forward-looking statements. View source version on Contacts Media Contacts: HPELaura JuniperPelin Murphypelin@ Investor Contacts: HPEPaul JuniperJess Lubertjlubert@
